The Future of Work and Your Place in It

May 29, 2019

It is the year 2035.

Your self-driving car has dropped you in front of your office and your robot receptionist is giving you a list of all visitors. You are hungry and are checking your food (hydroponic plants for fruits and vegetables and in-vitro cloned meat) source on a vertical building plant on a mind-controlled phone. Soon after you swipe, a drone lands on your rooftop. You unload your package, sign the delivery ledger and walk back to your AI controlled cabin that has everything set as per your preferences.

No, this is not fiction we are talking about. It is the route that our world has already taken. Most of these technologies are already in place. We are sure there are many more to come. This is the world we have created for ourselves and this is also the one that we will leave for the generations to come.

This picture also comes with a big question - What work will we all be doing? Most of the routine jobs will be taken over by AI. Two thirds of the world’s workers are employed in the service sector, and the service sector will be the most impacted by the 4th industrial revolution. 3.7 million workers from the middle class alone will be affected. Predictions say that non-routine human soft skills like creative thinking, reasoning, problem-solving and STEM will rise in demand. New jobs like trash engineer, alternative energy consultant, medical mentor, earthquake predictor, human body parts creator, IoT repair person will crop up. Soon, the entire sphere of jobs will turn topsy-turvy.

Lay of the Land - AI Metamorphosed Job Landscape:

While AI will seep into almost all industries, extensive impacts will be seen in the following three industries:

Automotive Industry: Self Driving vehicles will change the entire landscape of driving, overnight transportations and trucking. This change will bring extensive ramifications and will greatly impact the connected industries. The repair and manufacturing industry will see an overhaul and fall in fuel demand will adversely affect the oil and gas industry. The United States is already witnessing a historic low in unemployment. By 2028, 2.4 million new workers will be needed in the manufacturing sector.

Healthcare industry: AI is bringing a paradigm shift in healthcare. Technology will reduce decision-making time for doctors by 80%. Both private and public sectors are investing heavily on the healthcare industry and the investments are expected to reach $6.6 billion by 2021. A PwC report estimates that AI in healthcare will create 7.2 million jobs in the UK alone.

Brain Sciences Industry: A completely new industry of mind-mapping, brain prosthetics, brain-like computers, brain connected devices and brain testing is on the horizon and jobs for all levels right from assistants to engineers will flourish within it.

AI Professionals’ Piece of the Pie

1 in 5 workers will work with an AI coworker by 2022. The extent of demand is becoming stronger every day and the war for AI talent has already begun. While professionals in other industries usually rise at 20-30% hikes, professionals in the AI industry are on an average getting 60-80% hike. An entry-level professional in AI can earn 70% up and above the average computer science professional.

Gearing Up for the Future Workforce:

Change has forever been the only constant. But this time change has become the hypersonic constant. The average lifespan of skills has dropped from 30 years to 6 years and it might drop further. Skill upgradation is no more a choice. AI education could be a good place to start. Here’s how it can be done:

  • Know about new and disruptive technologies.
  • Think if you can integrate it in current role.
  • Get trained and certified.
  • Apply for new AI roles.

Follow Us!